Oil Market - 2017 Year in Review

Study Released January 25, 2018

Crude Oil Report - December 2017

It has been a turbulent year with natural disasters, geopolitical tensions, and deep political divisions occurring in many countries. Concerning economic growth, however, 2017 ended positively, with gross domestic product (GDP) continuing to accelerate around much of the world in the widest cyclical upswing since the start of the decade. According to the International Monetary Fund (IMF), growth accelerated in the majority of countries. Of more importance, some of the countries that had high unemployment (for example, several in the eurozone, are participating in the growth surge and experiencing strong employment growth. Some of the larger emerging market economies, such as Argentina, Brazil, and Russia, exited their recessions. Still, in per capita terms, growth in almost half of emerging markets and developing economies – particularly the smaller ones – lagged behind advanced economies, and almost a quarter have seen declines. Countries that struggled include fuel exporters and low-income economies suffering from civil strife or natural disasters..... Download full report.

December 2017